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Flowserve Reports First Quarter Results

Flowserve Corp. announced financial results for the first
quarter of 2010 in its Quarterly Report on Form 10-Q filed with the Securities
and Exchange Commission. Flowserve had fully diluted EPS of $1.42, down 13.4%; bookings
of $1.07 billion, up 10.7%, or 5.6% excluding currency benefits of $49 million;
and sales of $959 million, down 6.4%, or 11.0% excluding currency benefits of
$47 million.

Flow Control Division (FCD) bookings for the first
quarter of 2010 were $318.9 million, an increase of $16.1 million, up 5.3%, or
0.7% excluding currency benefits of approximately $14 million. FCD sales for
the first quarter of 2010 were $256.1 million, a decrease of $41.1 million,
down 13.8%, or 17.5% excluding currency benefits of approximately $11 million.
FCD gross profit decreased to $95.7 million, down $11.5 million or 10.7%. More…